Royal Bank Of Canada Reiterates C$58.00 Price Target for MDA Space (TSE:MDA)

Key Points

• Royal Bank of Canada reiterated an outperform rating on MDA Space and set a C$58.00 price target, implying about 34% upside from the current share price.
• Several other analysts also turned more bullish, with target prices ranging from C$68 to C$75; the overall consensus rating is Buy with an average target of C$65.80.
• MDA Space shares fell to C$43.20 in Thursday trading, while the company most recently reported C$0.38 EPS on C$464.1 million in revenue for the quarter.

MDA Space (TSE:MDA - Get Free Report) received a C$58.00 price target from equities researchers at Royal Bank Of Canada in a note issued to investors on Thursday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the stock. Royal Bank Of Canada's price objective points to a potential upside of 34.26% from the stock's current price.

A number of other research firms have also commented on MDA. Desjardins boosted their price target on shares of MDA Space from C$70.00 to C$72.00 and gave the company a "buy" rating in a research report on Wednesday. Scotia increased their price objective on MDA Space from C$53.00 to C$70.00 and gave the stock a "sector outperform" rating in a research report on Thursday, May 28th. BMO Capital Markets lifted their price objective on MDA Space from C$53.00 to C$68.00 and gave the company an "outperform" rating in a research note on Monday, June 22nd. Scotiabank boosted their target price on MDA Space from C$70.00 to C$71.00 and gave the stock a "sector outperform" rating in a research report on Monday, June 22nd. Finally, Stifel Nicolaus upped their target price on MDA Space from C$70.00 to C$75.00 and gave the stock a "buy" rating in a research note on Monday, June 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of C$65.80.

MDA Space Price Performance

Shares of MDA traded down C$3.40 during midday trading on Thursday, hitting C$43.20. 1,008,945 shares of the company traded hands, compared to its average volume of 1,205,445. MDA Space has a one year low of C$20.85 and a one year high of C$67.90. The firm has a market cap of C$6.00 billion, a P/E ratio of 54.44 and a beta of -0.34. The company has a debt-to-equity ratio of 20.62, a current ratio of 0.80 and a quick ratio of 1.00. The stock has a 50-day moving average of C$54.72 and a 200-day moving average of C$44.05.

MDA Space (TSE:MDA - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported C$0.38 EPS for the quarter. The company had revenue of C$464.10 million during the quarter. MDA Space had a net margin of 6.02% and a return on equity of 7.24%. As a group, sell-side analysts predict that MDA Space will post 0.9605084 EPS for the current fiscal year.

Insider Activity at MDA Space

In related news, insider Guillaume Lavoie sold 1,500 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of C$52.63, for a total value of C$78,945.00. Following the transaction, the insider owned 6,257 shares of the company's stock, valued at C$329,305.91. This represents a 19.34% decrease in their ownership of the stock. Also, insider Holly Lynn Johnson sold 45,000 shares of the firm's stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of C$52.79, for a total value of C$2,375,550.00. Following the sale, the insider owned 60,331 shares in the company, valued at C$3,184,873.49. The trade was a 42.72% decrease in their position. Insiders have sold a total of 119,269 shares of company stock valued at $6,318,903 over the last ninety days. 12.60% of the stock is currently owned by insiders.

About MDA Space

Building the space between proven and possible, MDA Space (TSX:MDA; NYSE:MDA) is a trusted mission partner to the global defence and space industry. A robotics, satellite systems and geointelligence pioneer with a 55-year+ story of world firsts and more than 450 missions, MDA Space is a global leader in communications satellites, Earth and space observation, and space exploration and infrastructure. The global MDA Space team of more than 4,000 space experts has the knowledge and know-how to turn an audacious customer vision into an achievable mission - bringing to bear a one-of-a-kind mix of experience, engineering excellence and wide-eyed wonder that's been in our DNA since day one.

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